Nationwide bank strike for 2 days coming week, Operations Of SBI likely to be hit

New Delhi: The United Forum of Bank Unions (UFBU) has called for a two-day strike to protest against the Centre’s plan to privatize public sector banks. UFBU is an umbrella organization of bank unions.

Reportedly, the two days bank strike will take place on December 16 and December 17.

India’s largest public sector bank, the State Bank of India (SBI) stated in a stock exchange report that the normal functioning of the bank, such as SBI branches, ATM services, is likely to be impacted by the two-day strike.

Members of UFBU include All India Bank Employees Association (AIBEA), All India Bank Officers’ Confederation (AIBOC), National Confederation of Bank Employees (NCBE), All India Bank Officers’ Association (AIBOA), and Bank Employees Confederation of India (BEFI).

Bank unions believe that the move to privatize public sector banks will hit the Indian economy’s priority sectors as well as credit flow to self-help groups and the economy of rural areas.

Other associations are the Indian National Bank Employees Federation (INBEF), Indian National Bank Officers Congress (INBOC), National Organization of Bank Workers (NOBW), and National Organization of Bank Officers (NOBO).

Union Finance Minister Nirmala Sitharaman stated in her 2021 budget speech that two public sector banks will be privatized during the current fiscal year.

Also read: Alert! Banks to conduct strike next week, Know dates, details

You might also like
Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.